Fort Worth daily gazette. (Fort Worth, Tex.) 1882-1891, 1887-03-21
Settled.
The B. and 0. Deal is a Goa Great
Consolidation of Railroad
Interests.
President Robert Garrett is the Chief
Executive Head-JOhn ". Mackay
Comes to Sully'S Assistance.
The Bonanza Kings Telegraph Lines q
Part OF the Systen-Jsy Could Net
Interested in the Syndicste.
eau In Clnetnnatt Enqulrer.

known, has been hawking the Baltimore
and Ohio property about in financial pur-
Iieus for the past week. NOBODY but
those interested know absolutely what
Mr. SuEy's option on this magnificent
property is, but that he has an option ana
that it is still open is becoming more evil
dent daily. Mr.. SulIY is a man wao
makes good barg aims, but they are as q
rule of such magnitude that once made
they must De cOnsummated, not by him
self but by Others whom he thinks he can
draw into the vast mesh which his active
brain cOnceiVes.
Now, the bargain which Mr.. Sully made
with Mr.. Garrett was an equitable deal
fer both parties. Mr.. Garrett's habits
and inClinatiOns, as well as his instincts,
prompt him TO relieve himself Of the
property Which he controls. Mr.. Sully,
knowing these things, makes q PROPOSE
ton, which is accepted, and gets an
option. This option was elastic in some
| points, but on the question of the Balti-
more and OHIO getting southern outlet
| it was rigid. The elasticity of the option
! is evident in the continuance of negOLia-
| tiOIs, ana the latest Of these took place
| to-day.
The extent Of Mr. SuIly's option is the
lowering mist which has befogged all the
! wiseacres. Two or three days ago it
was supposed to have expired The truth
| is that the option lives, ana it is healthy
and exceedingly vigorous. Mr.. Gould
! has had shot at it, but he would not or
could not touch 1t. The popular cry
against monopoly rang strongly in his
ears, an0 he refused There were one or
| 49,.
| Henry Willard, but they were small fry,
and were passed over lightly.
To day Mr.. SulIY found his man, or at
least he thinks so, and the man he has
| found is the posSessor Of 500, 100000
owner Of the Commercial Cable Company,
the Postal Telegraph Company
and the Bonanza Mines-John w. Mac
kay. This is the proposition which Mr..
Sully made to-day 10 Edward S. Stokes,
Henry Rosene and one other, who acted
rs Mr.. Macksy's representatives., and
from the manner in which they spoke of
the offer later, there is every prospect of
its being accepted: Sixteen million dol
lars can buy the control CT the Baltimore
and OHIO Railroad and Telegraph systems.
For this SIG, 900, 900 Mr.. Garrett will &C
cept per cent. debenture bond for
$4,000, 900, as against The $4,000, 900
of stock to be put in trust, aud $6,000,-
900 in cash.
This is the story in a nut shell.
| Now, Mr.. Sully, in his proposition to
Mr.. MacEay's representatives to day, Of
Ifers to put up 1000, 600 in cash himself
and asks Mr.. Mackay to put up or fur
Inish the other 100000. For this
81, 900, 900 Mr.. Sully offers to Mr.. Mac
kay the control of the Baltimore and
Ohio Railroad Company, which he can
combine with his Postal Telegraph and
Commercial Cable, a seat in the board of
directors Of the Baltimore and Ohio Rail-
road Company, and his proportionate
control OF the SI6, 100000 of stock. Mr..
Mackay is further guaranteed a certainty
of per cent. on his investment from
dividends on Baltimore and Ohio stock.
The avidity with which the above pro-
position was considered by Mr.. Mackay's
representatives, and the pains which they
took TO expedite the dispatch outlining
its features to their principal, who is now
III San Francisco, incllnes 10 the belief
that il viii be accepted, and that not only
the railroad combination will be con-
rummated, but that the opposition tele-
graph line~, as well IS the cable company,
Of which MIR. Mackay is the head, will be
enormously strengthened.
MR.. GARRETT'S STATKMENT-A GIGANTIC
! COMBINATION OF RAILROAD AND TELE-
GRAPH INTERESTS.
! PHILADELPHIA, Pa, March 16-The
! Ledger tomorrow will say: 'In refer
| enCe 10 the matter of the sale of the ma
| jority Of the common stock of the Balti-
more and ONO Railroad, which carries
with it the control of that company, we
are informed by an authority that is di-
rect from President Robert Garrett that
in the proposed sale the interests of the
! city Of Baltimore and the maintenance Of
! the trade Of that city are to be fully cared
/ for by placing the Baltimore and Ohio
r .iirOad at the head of q new railway
combination which will enlarge and i'm
prove the southern and western trade,
connections of that CRY, and also
to that extent to aid in improv
ing the commercial relations of PniladeI-
phia.
eve are further Informed that while
the original arrangement by which Mr..
Alfred SulIy might have had control of
the new combination was not carried out.
Mr.. Garrett has at present another ar
rangement satisfactory to himself with q
syndicate of railway managers and bank
SISJ WIZ nave dlISduI uAtu upon Lie
price to be paid for the stock and the
terms of payment, but certain details are
yet TO be arranged which will fully pro-
! tect the shareholders of the railway and
the material interests of the CITY of Balti-
more, and also secure an outlet by an
independent and untrammeled line
through to New York.
'In the new arrangement the
Baltimore andOhio Railroad, so far from
having its identity sunk, will be at the
head of the combination. with Mr.. Gar
rett as the executive chief of the orgsni-
ZatiOn.
1--WE are also assured that the Bslti-
more and Ohio Telegraph lines are not to
be permitted to pass under the control of
the Western Union Telegraph Company,
or under the control of Mr.. Jay Gould
in any FORM. and under no cir
cumstances will this be permit
ted. At the same time the independent
telegraph system which will be maintained
will have sccessions, by arrangements
with other lines, that will extend the ter
ritory covered and the efficiency of the
service.
"The adjustment of all these details
will probably take considerable time, and